Geostat has published its preliminary estimate of real GDP growth for July 2024, which stands at 13%. In addition, the estimated growth for the first and second quarters of 2024 reached 8.4% and 9.6%, respectively. Consequently, the average real GDP growth from January to August 2024 reached 10%.

According to GeoStat’s preliminary estimates in the second quarter of 2024, Georgia’s nominal GDP reached GEL 22,101.7 million, with a year-over-year real GDP growth of 9.6% and a GDP deflator change of 2.5%. The growth was driven by significant increases in value-added across various sectors: Accommodation and food service activities rose by 35.7%, Education by 21.3%, household activities as employers and producers of goods and services for personal use by 17.3%, Transportation and storage by 16.1%, Public administration and defense, including social security, by 13.3%, and Construction by 13%.

Geostat has published its preliminary estimate of real GDP growth for May 2024, which stands at 9.2%. In addition, the estimated growth for the first quarter of 2024 reached 8.4%, which is 0.6 ppt higher than the previous estimate. As a result, the average real GDP growth for January - May 2024 reached 9.3%.

According to GeoStat’s preliminary estimates in the first quarter of 2024, Georgia’s nominal GDP reached GEL 18,913.2 million, with a year-over-year real GDP growth of 8.4% and a GDP deflator change of 3.1%. The growth was driven by significant increases in value-added across various sectors: Real estate activities rose by 18.8%, Education by 29.1%, Public administration and defence, including social security, by 13.0%, Construction by 10.3%, Information and communication by 12.2%, and Transportation and storage by 9.7%.

Geostat has published its preliminary estimate of real GDP growth for April 2024, which stands at 11.8%. In addition, the estimated growth for the first quarter of 2024 reached 7.8%.